Automakers Report Increased Sales in April; Find Low Rate Auto Loans Online All  Year Long

(05/07/2010) Last month’s increased auto sales point to a recovering American auto market.  According to CNNMoney.com, “major automakers posted double-digit gains in U.S. sales in April compared to the battered sales of a year ago.”  If you are one of the many who is looking to purchase a car this year, Informa Research Services suggests using online resources to find the best loan to finance your vehicle.

According to Jesse Toprak, vice president of industry trends at TrueCar.com, “All the fundamentals to fuel car buying – pent-up demand, an improving economy – are there.”  In addition to the demand and improving economy, another element that is available is great auto loan rates.  The national average on a 48-month auto loan (on a new vehicle purchase) is currently a modest 5.55%, down 62 basis points from 6.17 one year ago (Source: Informa Research Services’ Interest Rate Review).

By using online rate tables, such as those found on ERATE.com, you can quickly find the lowest rate offered in your area on the loan product of your choice.  You can also compare various lenders’ rates, discounts, and estimated monthly payment all from one convenient rate table.  The best part of using rate tables like these is that no personal information is needed to retrieve these rates.

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